ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Established in 1966, it is owned by 68 members—49 from the region.
ORGANIZATION
ACCOUNTABILITY
ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
Data and Statistics
Data and statistical analysis in the Asia and Pacific region contribute to knowledge generation in ADB, helping strengthen its institutional priorities and operational effectiveness in its developing member economies.
ADB's Chief Economist: Albert Park
Albert Park is the Chief Economist of the Asian Development Bank (ADB).
Mr. Park is the chief spokesperson for ADB on economic issues. He leads the Economic Research and Development Impact Department (ERDI), which publishes key knowledge products such as the Asian Development Outlook, Asian Economic Integration Report, Asia Bond Monitor, and Key Indicators for Asia and the Pacific.
Read the news release on his appointment.
Moderating Inflation Lifts Financial Conditions in Emerging East Asia
Emerging East Asia’s financial conditions have improved, leading to declining bond yields amid moderating inflation and expected interest rate cuts, according to a new report by ADB.
Climate Change Response in Asia and Pacific Held Back by Insufficient Data
Policy makers in Asia and the Pacific are struggling to collect and analyze the data they need to effectively respond to climate change, hampering efforts in a region considered the world’s most vulnerable to the effects of a warming planet.
ADB Raises Developing Asia and the Pacific’s Economic Growth Forecast for 2024
ADB has slightly raised its economic growth forecast for developing Asia and the Pacific this year to 5.0% from a previous projection of 4.9%, as rising regional exports complement resilient domestic demand. The growth outlook for next year is maintained at 4.9%.
Emerging East Asia’s Bond Yields Rise Amid Uncertainty Over Disinflation
Bond yields in emerging East Asia increased amid strengthened expectations that interest rates will remain elevated for a longer period, due to uncertainty in disinflation progress, according to a new report by ADB.
Developing Asia and the Pacific Unprepared for Challenges of Aging Population
Developing Asia and the Pacific is unprepared to secure the well-being of its rapidly aging population as the growing share of older people in the region face challenges from low pension coverage to health problems, social isolation, and limited access to essential services.
ADB-Statistics Korea (KOSTAT) MoU Signing Ceremony - Albert Park
Remarks by Albert Francis Park, ADB Chief Economist and Director General, Economic Research and Regional Cooperation Department, at the ADB-KOSTAT MoU Signing Ceremony, 12 December 2022
Albert F. Park is Chief Economist of the Asian Development Bank (ADB) and Director General of its Economic Research and Regional Cooperation Department. He is chief spokesperson on economic and development trends and leads the production of ADB’s flagship knowledge products and support for regional cooperation fora.
Mr. Park has more than 2 decades of experience as a development economist and is a well-known expert on the economy of the People’s Republic of China. He has worked on a broad range of development issues including poverty and inequality, intergenerational mobility, microfinance, migration and labor markets, the future of work, and foreign investment.
Mr. Park is Chair Professor of Economics, Social Science, and Public Policy at HKUST (on leave). He served as a founding director of HKUST’s Institute for Emerging Market Studies and Center for Economic Policy, and previously held faculty positions at the University of Oxford and University of Michigan.
A national of the United States, he received his bachelor’s degree in economics from Harvard University and his doctorate in applied economics from Stanford University.